Q.8 Being the Head of the Strategy Cost Cutting Steering Group, you are assigned
the task of preparing a preliminary report on cost cutting at MULTIBRANDS.
Write the report focusing on the following: (10)
• Product development
• Brand consolidation
• Quality control and pricing
• Personnel retention and hiring
-.-.-.-.-.-.-
LAWS RELATING TO FINANCIAL SERVICES – STAGE-I
ISQ Examination (Summer-2009)
Q. 1 Fill in the blanks: (10)
Q.2 State True or False in the answer column. (10)
Q.3 Please write the alphabet of selected answer in the given space: (13)
Q.4 A) Under Financial Institutions (Recovery of Finances), Ordinance, 2001
what constitute a “customer” and his obligations? (06)
Q.4 B) Does a banker incur any liability to third party by issuing a chequebook
to the client while the bank account was opened negligently? (05)
Q.4 C) Is the bank liable to the depositor who presents Fixed Deposit Receipt on
maturity for repayment, if it is found that no such deposit was recorded in
the books of the branch and it transpired that the Branch Manager had
embezzled the amount? (05)
Q.5 What precautions should a banker take in opening the bank accounts in the
names of;
i) Individual (05)
ii) Trust Account (05)
iii) Account of Joint Stock (05)
Q.6 A) Under what circumstances a banker is justified in refusing payment of a
cheque drawn upon him? (05)
Q.6 B) Please discuss modes of securing the finance? (05)
Q.7 A) Discuss the banker’s rights to sell the pledged goods and the formalities to
be complied with prior to exercise the powers. (05)
Q.7 B) Discuss; (06)
i) “Equitable Mortgage” ii) “Legal Mortgage”
ACCOUNTING FOR FINANCIAL SERVICES – STAGE-I
ISQ Examination (Summer-2009)
Q.1 State TRUE or FALSE in the answer column: (18)
Q.2 Please write the alphabet of your choice in the answer column. (35)
Q.3 Following transactions were carried out during 2008 by Chinawala Brothers
(CWB). Put a letter whether each of the transaction will immediately (10)
- Increase (I),
- decrease (D), or
- have no effect (N) on the ratios/figures shown.
Leverage Return Quick
Ratio on Assets Ratio
1. January 1, 2008: CWB issues 150,000 shares of
stock at Rs.10 par-value.
2. January 20, 2008: CWB purchases a building for
Rs.70,000 and purchases equipment for
Rs.35,000. It pays half the price in cash and the
other half through a bank loan.
3. March 1, 2008: CWB acquires finished goods for
Rs.150,000. CWB pays cash for half of the
merchandise, and the remainder is purchased on
account.
4. March 30, 2008: CWB pays Rs.45,000 in
employee salaries.
5. July 1, 2008: CWB decides to rent additional
building space and pays for six months rent, at
Rs.3000 a month, in advance.
6. August 22, 2008: CWB sells all of the finished
goods for Rs.400,000, of which Rs.300,000 is on
account and the remainder is received in cash.
7. October 30, 2008: CWB collects Rs.160,000 in
cash from its accounts receivable, and uses this
money to pay down its accounts payable.
8. November 23, Year1: CWB declares dividend
@Rs.2.50 per share, payable on Dec. 30, 2008.
MACRO ECONOMICS AND FINANCIAL SYSTEM OF PAKISTAN – STAGE-I
ISQ Examination (Summer-2009)
Q.1 State True or False in the answer column. (09)
Q.2 Please write the alphabet of selected answer in the given space: (46)
Q.3 A dialogue took place between two economists is as follows:
Mr. A: The neo-classical model which is promoted by the IMF and its
followers in developing countries needs to be re-assessed. The
emphasis on macroeconomic stability, in particular controlling
inflation should not be at the expense of growth in the developing
countries such as Pakistan.
Mr. B: The issue of macro stability is also very important. If that is
ignored, the growth achieved shall falter in the long-run. I believe
we should first look at achieving stability and arresting
inflationary trend as major focus of our economic policy.
Mr. A: We can not over-look stability question. However, we should not
ignore more basic issues confronting our economy. Poverty rate
has jumped from 23.9% to 37.5% in the course of three years. We
need investment in infrastructure, human development projects
and for improving living standard of poorer sections of society.
Mr. B: I think if we are able to keep inflation and growing macro
economic imbalances in check, we may then adopt policies aiming
at achieving growth on sustainable basis.
Based on the above discussion, Answer the following questions:
i) Is there any trade-off between inflation and growth in Pakistan’s
economy? Justify your view point with reasoning. (03)
ii) Explain why macro economic stability is important for smooth
functioning of economy. (03)
Q.4 (A) Outline the major factors responsible for liquidity pressures experienced
by Banking System in Pakistan in recent past? (05)
Q.4 (B) What are the implications of high fiscal deficits for monetary policy?
Discuss in the context of Pakistan. (05)
Q.5 (A) What does a balance of payments statement tell us? (02)
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